Consolidation Comparison
Compare your current debts vs rolling them into a new consolidation loan. See payoff time, total interest, and schedules.
Inputs
Loaded your last inputs
How this compares options
Current debts: You pay each minimum, and any extra goes to the highest APR first (Avalanche).
Consolidation loan: A single fixed-rate loan with a fixed payment over a term (plus optional fees).
This is a math model. Real lenders can have fees, underwriting, payoff timing quirks, and minimum-payment rules that differ.
1) Current debts
Enter balances, APRs, and minimums. Extra payment (below) applies to both scenarios.
On top of all minimum payments (current debts) and on top of the consolidation loan payment (if you choose).
2) Consolidation loan
Tip: after you calculate, we’ll show how this compares to your weighted average APR.
Example: 60 months = 5 years.
Commonly 0%–8% (varies widely).
Optional: closing/admin fees, etc.
If checked, fees are added to the loan amount (you borrow them).
If you override the payment, payoff time may differ from the term.
Some people prefer keeping the loan payment fixed and using “extra” elsewhere.
Uses monthly compounding (APR/12). Estimates only.
Results
Current debts payoff time
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Current debts total interest
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Sum of interest across all debts.
Consolidation payoff time
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Consolidation total interest
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Interest only (fees shown below).
Weighted average APR (current)
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Balance-weighted average of your current APRs.
Loan APR vs current average
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Shown after calculation.
Consolidation payment
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Fees (upfront or rolled in)
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Total cost: current plan
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Total paid until all debts reach $0.
Total cost: consolidation
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Total paid (principal + interest + fees).
- Interest accrues monthly using APR ÷ 12 (monthly compounding).
- Current debts: You pay each minimum; any extra payment targets the highest APR first (Avalanche method).
- Minimum payments are treated as fixed dollar amounts (not percent-of-balance rules).
- Consolidation loan: Fixed APR and standard amortization with a fixed monthly payment (unless you override it).
- If you override the loan payment, payoff time may be shorter or longer than the selected term.
- Fees are either rolled into the loan balance (you borrow them) or treated as paid upfront and added to total cost.
- If fees are rolled into the balance, you pay interest on those fees (because they become part of principal).
- Extra monthly payment is applied to the loan only if “Apply extra to loan?” is set to Yes.
- No promotional rates, teaser APRs, penalty APR changes, late fees, or lender-specific minimum formulas are modeled.